A P500-million “new town development” is rising in Sta. Barbara, Iloilo just beside the century-old Iloilo Golf and Country Club courtesy of giant real estate property developer Fil-Estate Land Inc.
Fil-Estate chair and CEO Robert John Sobrepeña said they have been propping up Iloilo’s real estate industry in the last 15 years with two high-end subdivisions – Puerto Real in LaPaz, Iloilo City and Centro Verde in Pavia town.
Sobrepeña was here to lead the inauguration of Fil-Estate’s Iloilo office at San Mars Point, Gen. Luna Street, Iloilo City proper.
“The opening of our new office is a testament to our belief that Iloilo is one of the growing centers. Iloilo is one of the most viable city centers where people are known for their ability to save. All the major banks are here – a testimony that the funds saved will improve the housing industry,” Sobrepeña said.
“Some big businesses are already here. We believe that Iloilo should be developed alongside Manila,” he added.
Fil-Estate launched the 153-hectare Sta. Barbara Heights on the hilly site of Barangay Inangayan August 29, 2008.
“We believe it will be the start of a new town development near the New Iloilo Airport. The hills are a perfect site. There’s absolutely no concern for flood. It will also host recreational facilities, hotel and business district for offices to locate there,” Sobrepeña said.
Sobrepeña said they settled in Sta. Barbara because of the high elevation as “certain areas were flooded which is always seen as a problem or we have to elevate it to make sure it will not be flooded.”
The location is also ideal because of its proximity to the new airport.
“The property can accommodate 500 housing units. A house-and-lot package will cost P1million. The land is there and the developments will depend on the ability to construct and demand. We expect it to be fully developed in two years time,” he said.
This story first appeared in The Daily Guardian Aug. 29, 2008
Photos from Sta Barbara Heights Township FB account